By Bria Brown

(CBS DETROIT) – Detroit-based Ally Financial is ending its overdraft fees.

It will be the first bank in the nation to make the move, ending its $25 overdraft fee across its entire business.

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Ally cites the impact the fee had on Black and Latino households as the main reason.

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It also expects by removing the fee, it will reduce stress on customers and simplify how their accounts work.

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